DBS Bank Forecasts 1.9% Growth
For Thailand, Avoiding a Recession

By

Richard Borsuk Staff Reporter of The Wall Street Journal

Updated Aug. 27, 2001 7:46 a.m. ET

SINGAPORE -- The Thai economy is likely to grow 1.9% this year as the government's expansionary fiscal policy prevents a "full-blown" recession, the economic and market research department of Singapore's DBS Bank said Monday.

In a report received by The Asian Wall Street Journal, the bank said it expects the baht to trade between 44.00 baht and 46.00 baht to the dollar in the next six months, before strengthening to 43 baht...